$116.83 Million in Sales Expected for United Community Banks, Inc. (UCBI) This Quarter
Equities research analysts predict that United Community Banks, Inc. (NASDAQ:UCBI) will post sales of $116.83 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for United Community Banks’ earnings, with estimates ranging from $114.40 million to $119.00 million. United Community Banks posted sales of $106.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that United Community Banks will report full year sales of $116.83 million for the current year, with estimates ranging from $439.20 million to $445.20 million. For the next year, analysts anticipate that the business will post sales of $509.57 million per share, with estimates ranging from $500.10 million to $525.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for United Community Banks.
United Community Banks (NASDAQ:UCBI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $109.35 million during the quarter, compared to analysts’ expectations of $114.65 million. United Community Banks had a net margin of 23.09% and a return on equity of 10.31%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded United Community Banks from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded United Community Banks from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $33.00 target price on shares of United Community Banks in a report on Thursday, October 12th. Stephens reissued a “hold” rating and issued a $29.00 target price on shares of United Community Banks in a report on Wednesday, July 26th. Finally, FIG Partners raised United Community Banks from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.25.
In other news, EVP Robert A. Edwards sold 11,550 shares of United Community Banks stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $26.06, for a total value of $300,993.00. Following the completion of the transaction, the executive vice president now owns 16,858 shares in the company, valued at approximately $439,319.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.18% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its position in United Community Banks by 134.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,390 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 3,090 shares in the last quarter. PNC Financial Services Group Inc. raised its position in United Community Banks by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,604 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 295 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in United Community Banks during the 2nd quarter valued at $211,000. Amalgamated Bank raised its position in United Community Banks by 1.5% during the 2nd quarter. Amalgamated Bank now owns 9,645 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 140 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in United Community Banks during the 1st quarter valued at $295,000. 87.18% of the stock is owned by hedge funds and other institutional investors.
Shares of United Community Banks (NASDAQ UCBI) traded down 2.98% on Monday, reaching $27.31. 345,959 shares of the company were exchanged. The company’s 50-day moving average price is $27.64 and its 200 day moving average price is $27.24. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 18.71 and a beta of 0.87. United Community Banks has a 12 month low of $21.01 and a 12 month high of $30.47.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date was Thursday, September 14th. This is a boost from United Community Banks’s previous quarterly dividend of $0.09. United Community Banks’s dividend payout ratio (DPR) is currently 27.03%.
United Community Banks Company Profile
United Community Banks, Inc (United) is a bank holding company. United conducts its operations through a community-focused operating model of separate community banks, which, as of December 31, 2016, operated at 139 locations throughout the Atlanta-Sandy Springs-Roswell, Georgia, and Gainesville, Georgia metropolitan statistical areas, upstate and coastal South Carolina, north and coastal Georgia, western North Carolina, and east Tennessee.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Community Banks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Community Banks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.